HOBOKEN AND BEYOND -- Just a week after the Hoboken school board completed an arduous process to find their new superintendent of schools, the Stevens Institute of Technology in Hoboken has also found their new leader after a long search, according to a report in the Wall Street Journal.

Dr. Nairman Farvardin, 55, is expected to be announced as the new president of Stevens Institute of Technology on Tuesday, Jan. 18, according to the report. He will take over this July 1, according to the Wall Street Journal, and will earn a $625,000 annual salary. Farvardin currently serves as a provost for the University of Maryland.

The previous school president, Harold Raveche, suffered during a scandal in which the state attorney general alleged that Stevens was mismanaging finances and also charged that the school was overcompensating its president. For previous coverage of the lawsuit, click HERE.

To read the report from the Wall Street Journal, click HERE. And for additional coverage, check this weekend's Hoboken Reporter.